According to Publisher, the newborn screening market is estimated at $540.4 million in 2015 and is projected to reach $1,240.2 million by 2022 growing at a CAGR of 12.6% from 2015 to 2022. Rising awareness and demand for newborn screening in developed nations, presence of federal bodies for organizing awareness programmes, rising paranoia of parents and government initiatives are some of the key factors driving the market growth. Additionally, technological advancements, increasing benefits related to newborn screening and growing array of new born diseases are some of the factors contemplated to fuel the market growth. However, lack of skilled professionals and lack of awareness in developing regions are the major restraints inhibiting the market growth. Furthermore, Next-Generation Sequencing (NGS) is anticipated to provide growth opportunities for the newborn screening market.
Dry blood spot test segment is expected to witness highest growth on account of rapidly launching new and advanced products. Due to cost effectiveness and time effectiveness provided by mass spectrometry, tandem mass spectroscopy market dominated the global newborn screening technology market. North America accounted for the largest share in newborn screening market followed by Europe. Rapid technological advancements due to considerable R & D activities, enhanced insurance coverage and stable healthcare infrastructure are the major factors favouring the North American market over the forecast period. However, Asia Pacific is expected to witness highest growth on account of rapidly expanding healthcare industry and rising awareness.
Some of the key players in this market include GE Healthcare, Covidien, Plc., Agilent Technologies Inc., Masimo Corp., Perkinelmer, Inc., AB Sciex LLC, Natus Medical Inc, Waters Corporation, Trivitron Healthcare , Bio-Rad Laboratories, Inc., Quest Diagnostics Inc, Illumina, Inc. and Laboratory Corporation of America Holdings.
Test Types Covered:
-Critical Congenital Heart Disease (CCHD)
-Dry Blood Spot Test
-Reagents and Assay Kits
-Pulse Oximetry Instruments
-Newborn Disorder Screening Instruments
-Hearing Screening Instruments
-Hearing Screening Accessories
-Hearing Screening Devices
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-Enzyme Based Assays
-Tandem Mass Spectrometry
-Rest of Europe
-Rest of Asia Pacific
-Rest of the World
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